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Remortgage Hotline call now 0117 313 7780

1.22% 2 Year Fixed 

  • Overall cost for comparison 3.80% APRC

Representative Example:Mortgage of £120,000 on property valued at £200,000 over term of 25 years.Rate fixed for 2 years after which reverts to Post Office variable rate of 4.24%.

Call Post Office on 0808 179 6813

2.29% 5 Year Fixed 

  • Overall cost for comparison 3.90% APRC

Representative Example:Mortgage of £120,000 on property valued at £200,000 over term of 25 years. Rate fixed for 2 years after which reverts to Yorkshire Bank variable rate of 4.70%.

Bad Credit Mortgage Lenders

If you have a bad credit history, we can help you find a specialist bad credit mortgage lender who may still be able to offer you the borrowing you need. Take a look at the table below for some of the most competitive mortgage deals currently available or get in touch to discuss your unique circumstances. Call Fair Mortgages today on 0117 313 7780 or request a quote.

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.15%
Rate type: Fixed Nov-2019
Monthly cost: £387.52 per month
Max LTV: 60%
Product fee: £1025.00
Overall cost for comparison: 3.5% APRC
NatWest logo 1.15% Fixed Nov-2019 3.5% APRC 60% £1025.00 £387.52 per month get quotes Call direct0800 158 2934
Initial rate: 1.17%
Rate type: Fixed Aug-2019
Monthly cost: £390.48 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.17% Fixed Aug-2019 3.8% APRC 60% £1720.00 £390.48 per month get quotes Call direct0808 178 6813
Initial rate: 1.17%
Rate type: Fixed Aug-2019
Monthly cost: £390.48 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.17% Fixed Aug-2019 3.8% APRC 60% £1720.00 £390.48 per month get quotes Call direct0808 178 6813
Initial rate: 1.18%
Rate type: Tracker Nov-2019
Monthly cost: £388.91 per month
Max LTV: 65%
Product fee: £1075.00
Overall cost for comparison: 4.1% APRC
Virgin Money logo 1.18% Tracker Nov-2019 4.1% APRC 65% £1075.00 £388.91 per month get quotes Call direct0330 057 1528
Initial rate: 1.18%
Rate type: Tracker Nov-2019
Monthly cost: £388.91 per month
Max LTV: 65%
Product fee: £1075.00
Overall cost for comparison: 4.1% APRC
Virgin Money logo 1.18% Tracker Nov-2019 4.1% APRC 65% £1075.00 £388.91 per month get quotes Call direct0330 057 1528
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Bad credit mortgage review

Most high street banks use a credit scoring system to work out if they will give you a mortgage. If you don't get a high enough score you won't get a mortgage and in many cases you won't be told why.

At Fair Mortgages, we work with lenders who take into account your personal circumstances as well as you credit history when making their decision. We believe this is a much fairer and more transparent approach.

If you have had previous bad credit issues this may affect your ability to get a mortgage. Most high street lenders will not offer you a mortgage if you have a bad credit history. The good news is that there are solutions depending on your circumstances.

Causes of bad credit

There are various factors which can affect your credit score and make it harder for you to access future borrowing, such as a mortgage.

Some of the key things which can negatively affect your credit history include:

  • Late payment or non-payment on previous loans or credit cards
  • Having a County Court Judgement (CCJ) against you
  • Entering into an Individual Voluntary Arrangement (IVA)
  • Being declared bankrupt

It’s also worth noting that if you have never borrowed money or had a credit card before, you will likely have little or no credit history. This means you may well be turned down by some lenders for some products as they will be unable to assess how good or not you might be at repaying debt.

Compare bad credit mortgage deals

Our independent mortgage broker service offers:

  • Whole of market service - we can compare most UK lenders who will deal with bad credit including CCJs, missed mortgage payments, previous defaults and IVAs
  • Access to credit repair mortgage deals not available on high street
  • Fast turnaround - speak to us today if you need to move quickly
  • Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of finance solutions

To investigate your mortgage options if you have had previous bad credit issues call our mortgage team on 0117 313 7780 or fill in our call back form.

If your credit history is less than perfect, don’t despair when it comes to finding a mortgage - there are still mortgage lenders who specialise in offering mortgage deals for those with poor credit scores.

Choosing a mortgage lender for bad credit

There are various levels of bad credit mortgage available, depending on the severity of your poor credit score and the reasons for your credit rating. These deals range from mortgages for those with a borrower might have missed one or two mortgage payments in the past, t mortgages for people who have County Court Judgements on their credit record for non-payment of bills, all the way to mortgages for people who have declared bankruptcy in the past or had a property repossessed.

If you have an unconventional financial history or a bad credit record it can sometimes be beneficial to seek out a mortgage lender who specialises in mortgages for bad credit. This can increase your chances of getting the mortgage you need as specialist advisers will be used to dealing with potential borrowers in a similar situation to your own.

For example, they may opt to consider applications on a case by case basis, rather than the computerised screening process used by some mortgage lenders which will often automatically reject people with poor credit scores.

Tips for maximising your chances of getting a mortgage if you have bad credit

  • Ensure that you can afford it – this is an important point for any potential mortgage borrower, poor credit or not, but if you have had difficulty keeping up with mortgage repayments in the past, it can be useful to gather as much evidence as possible to demonstrate to the lender that you can afford the repayments.
  • Be prepared to pay more interest – having bad credit is likely to exclude you from many of the best value mortgage deals on the market, because lenders will consider you to be a higher risk borrower than someone who has a clean credit record.

To compare top mortgage interest rates and find the best mortgage deals for you, call our mortgage team on 0117 313 7780 to discuss your situation or use our Callback form.

Your credit score makes a difference. When you apply for a mortgage we will need to know what is on your credit report to help you get the right mortgage deal. See below for a service where you can obtain your personal credit report today.

CreditReport

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